Which of the following items do NOT correctly describe an aspect of mercantilism and trade liberalism? (Mark 2 items) Group of answer choices A subproduct of mercantilism was the first wave of modern colonialism, which consisted in privileged relations between the metropole and its colonies; Mercantilism did not prohibit, but did not favor protectionism much. In this sense it was similar to economic liberalism started by Adam Smith; Mercantilism also involved an intellectual tradition which saw positive trade balances as the means for national development; Different from mercantilism, trade liberalism of the 1800s, was not a violent system. All countries peacefully agreed to join the world trade system organized around the British empire. Mercantilism was a political economy system with the European “business classes” monarchs of the 1500s and 1600s and at its center; Note:- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism. Answer completely. You will get up vote for sure.

ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
icon
Related questions
Question

Which of the following items do NOT correctly describe an aspect of mercantilism and trade liberalism? (Mark 2 items) Group of answer choices A subproduct of mercantilism was the first wave of modern colonialism, which consisted in privileged relations between the metropole and its colonies; Mercantilism did not prohibit, but did not favor protectionism much. In this sense it was similar to economic liberalism started by Adam Smith; Mercantilism also involved an intellectual tradition which saw positive trade balances as the means for national development; Different from mercantilism, trade liberalism of the 1800s, was not a violent system. All countries peacefully agreed to join the world trade system organized around the British empire. Mercantilism was a political economy system with the European “business classes” monarchs of the 1500s and 1600s and at its center;

Note:-

  • Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism.
  • Answer completely.
  • You will get up vote for sure.
AI-Generated Solution
AI-generated content may present inaccurate or offensive content that does not represent bartleby’s views.
steps

Unlock instant AI solutions

Tap the button
to generate a solution

Recommended textbooks for you
ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
Economics
ISBN:
9780190931919
Author:
NEWNAN
Publisher:
Oxford University Press
Principles of Economics (12th Edition)
Principles of Economics (12th Edition)
Economics
ISBN:
9780134078779
Author:
Karl E. Case, Ray C. Fair, Sharon E. Oster
Publisher:
PEARSON
Engineering Economy (17th Edition)
Engineering Economy (17th Edition)
Economics
ISBN:
9780134870069
Author:
William G. Sullivan, Elin M. Wicks, C. Patrick Koelling
Publisher:
PEARSON
Principles of Economics (MindTap Course List)
Principles of Economics (MindTap Course List)
Economics
ISBN:
9781305585126
Author:
N. Gregory Mankiw
Publisher:
Cengage Learning
Managerial Economics: A Problem Solving Approach
Managerial Economics: A Problem Solving Approach
Economics
ISBN:
9781337106665
Author:
Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor
Publisher:
Cengage Learning
Managerial Economics & Business Strategy (Mcgraw-…
Managerial Economics & Business Strategy (Mcgraw-…
Economics
ISBN:
9781259290619
Author:
Michael Baye, Jeff Prince
Publisher:
McGraw-Hill Education